Novo Nordisk CEO to exit role

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Novo Nordisk’s current CEO, Lars Fruergaard Jørgensen, will step down. He remains in the position temporarily to support the transition to a new successor.

The company cited this change to its executive leadership is due to the impact of recent market challenges, as well as the company’s share price decline “since mid-2024”. This decision is in the best interest of the company and its shareholders, Novo Nordisk stated.

Lars Fruergaard Jørgensen – a successful eight-year tenure as CEO

In his eight years in the role of CEO, Novo Nordisk stated that the company’s sales, profits and share price have nearly tripled.

Having joined the company in 1991, Lars Fruergaard Jørgensen was appointed as Chief Executive Officer in January 2017. Novo Nordisk remarked that his involvement has helped to boost the firm’s leadership in the diabetes landscape, establish itself as a pioneer in obesity treatment and diversify its portfolio in other chronic diseases.

Commenting on his tenure, Lars Fruergaard Jørgensen remarked that “serving as Novo Nordisk’s CEO for the past eight years has been a privilege”.

What’s next for Novo Nordisk’s executive team?

As a further change, Novo Nordisk agreed that going forward, Chair of the Novo Nordisk Foundation, Lars Rebien Sørensen, will serve as an observer in Novo Nordisk’s Board meetings. It is intended that he will be nominated as a board member at the Annual General Meeting next year.

Lars Rebien Sørensen served as CEO of Novo Nordisk A/S for 16 years between 2000 and 2016. Since 2018, he has chaired the Novo Nordisk Foundation and Novo Holdings A/S.

This news follows the company’s announcement in March of a license agreement with Lexicon Pharmaceuticals, Inc. As part of the potentially billion-dollar deal, Novo Nordisk A/S will develop an investigational first-in-class oral small molecule inhibitor to treat obesity and associated cardiometabolic disorders.